Indiana § 28-1-23.2-4 "Qualified account"

Indiana Statutes

§ 28-1-23.2-4 — "Qualified account"

Indiana § 28-1-23.2-4

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 23.2Prize Linked Savings Programs

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Bluebook

Ind. Code § 28-1-23.2-4 (2026).

Text

(a)As used in this chapter, "qualified account", for purposes of a prize linked savings program, means:

(1)a savings account;

(2)a time deposit; or

(3)a savings program; that is offered by an eligible depository financial institution to an eligible individual.

(b)The term includes:

(1)an account described in subsection (a) that is a share account; and

(2)an account described in subsection (a) in which an eligible individual has an interest:

(A)individually; or

(B)jointly with another eligible individual.

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(a) As used in this chapter, "qualified
account", for purposes of a prize linked savings program, means:
(1) a savings account;
(2) a time deposit; or
(3) a savings program;
that is offered by an eligible depository financial institution to an
eligible individual.
(b) The term includes:
(1) an account described in subsection (a) that is a share account;
and
(2) an account described in subsection (a) in which an eligible
individual has an interest:
(A) individually; or
(B) jointly with another eligible individual.